Ohio Supreme Court Decision a Near-Term Setback, But Buckeye Legislators and Regulators Come Through
We are increasing our fair value estimate to $42 from $41 per share after FirstEnergy Corp reported 2019 second-quarter operating EPS of $0.61, $0.01 less than the same period last year. However, the utility had some decent regulatory and legislative outcomes in Ohio during the past couple weeks. Our fair value estimate also benefited from time-value appreciation since our last update.The recent Ohio Supreme Court decision calling for the removal of the Distribution Modernization Rider, or DMR,...
FirstEnergy is a public utility holding company. The company and its subsidiaries are principally involved in the transmission, distribution and generation of electricity. The company's reportable operating segments are comprised of: Regulated Distribution, which distributes electricity through the company's utility operating companies and also controls regulated electric generation capacity located primarily in West Virginia, Virginia and New Jersey; and Regulated Transmission, which provides transmission infrastructure owned and operated by the transmission companies and certain of the company's utilities to transmit electricity from generation sources to distribution facilities.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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